NEWARK, Del, July 06, 2023 (GLOBE NEWSWIRE) -- The global flavored water market is expected to reach US$ 14.84 billion in 2023, expanding at a 10% CAGR from 2023 to 2033. By 2033, the flavored water industry is expected to be worth US$ 37.65 billion.
The flavored water industry is expected to grow as customer preferences shift toward healthy beverage options. Flavored water, with its refreshing taste and reduced calorie content, appeals to health-conscious folks looking for a sugar-free alternative.
Factors driving the market include increased awareness of the need for hydration, rising disposable incomes, and a growing emphasis on wellness and fitness.
Manufacturers are leveraging this trend by providing a wide range of flavors, including fruit-infused, natural extracts, and unusual blends. Functional flavored water with added vitamins, minerals, and electrolytes has appeared on the market, aiming to provide certain health benefits.
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The market benefits from the rise in demand for easy-to-carry beverages, especially among urban populations with hectic lifestyles. Due to their mobility and convenience, ready-to-drink packaging solutions like bottles and cans are becoming popular.
Health-Conscious Shift: Increasing Consumer Demand Fuels Flavored Water Market Growth
The growing consumer demand for healthy beverage options is one of the primary drivers of the flavored water industry. As people become increasingly health-conscious and seek alternatives to sugary fizzy drinks and juices, flavored water gives a delicious and low-calorie option.
The growing awareness of the importance of hydration and the necessity to stay hydrated throughout the day accelerates demand for flavored water.
On-the-Go Hydration: Convenience and Flavor Innovation Propel Flavored Water Market
The trend toward convenience and on-the-go consumption is a big additional factor. It is simple for customers to carry and enjoy flavored water while they are out because it is offered in convenient packaging types like bottles and cans. This fits nicely with the hectic and energetic lifestyles of metropolitan residents, who frequently place a premium on portability and convenience when selecting beverages.
Market expansion is greatly aided by flavor innovation. Manufacturers frequently release new, exotic flavors, fruit-infused alternatives, and functional versions that provide extra health advantages, luring customers who are looking for variety and distinctive flavor experiences.
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Obstacles Affecting the Growth and Development of this Market:
There are numerous significant restraints on the growth and development of the flavored water business.
The belief among some consumers that flavored water is less healthful or natural than plain water is one of the key obstacles facing the industry. Health-conscious consumers may be discouraged from embracing flavored water alternatives due to worries about artificial flavors, sugars, and additives.
The market is fiercely competitive, with several brands competing for consumers' attention. New entrants and small firms find it difficult to establish themselves in a saturated market due to this competition.
Customers can choose from a variety of beverages, such as sports drinks, soft drinks, and other flavoured drinks. These substitutes give the flavored water industry fierce competition and may reduce its room for expansion.
Key Takeaways are:
- 19.2% of the market share may be held by the United States.
- Germany held onto its 7.4% market share for flavored water from 2023 to 2033.
- Japan might take 5.2% of the flavored water industry.
- Australia had a 0.9% market share from 2023 to 2033.
- Through 2033, the flavored water business in China is anticipated to expand at a 7.6% CAGR.
- The India flavored water industry is anticipated to develop at a CAGR of 11.4% between 2023 and 2033.
- The flavored water market in the United Kingdom is anticipated to expand at a CAGR of 8.5% between 2023 and 2033.
- The sparkling flavoured water subcategory of the product category might have a market share of 17.4% from 2023 to 2033.
- Between 2023 and 2033, the organic nature category may represent 14.6% of the flavored water market.
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Competitive Environment:
Intense and ever-changing competition exists in the flavored water business. A large number of brands, including well-known companies and recent comers, are aggressively contending for consumers' attention and market share.
Flavored water companies must constantly monitor consumer trends, invest in research and development, differentiate their products, develop strong brand identities, and develop successful marketing strategies to engage and retain customers in the rapidly changing flavored water industry in order to survive in the competitive environment.
Latest Innovations:
Introducing I.C.E. LabsTM, a Forward-Looking, Innovative Product Development Programme from Talking Rain Beverage Company®
Bringing new beverage concepts to market in a small-scale, test-and-learn model that enables an iterative approach to product development, Talking Rain Beverage Company, the manufacturer of the best-selling flavored sparkling water brand, Sparkling Ice®, is pleased to announce the launch of its new innovation programme, I.C.E. LabsTM.
Key Segmentation:
By Product Type:
- Still
- Sparkling
By Nature:
- Organic
- Conventional
By Flavor:
- Original
- Orange
- Vanilla
- Lemon
- Pineapple
- Grape
- Peach
- Fruit Punch
- Apple
- Berry
- Raspberry
- Blueberry
- Strawberry
- Cherry
- Watermelon
- Cola
- Coconut
- Citrus
By Packaging:
- Bottle
- Can
- Box
- Cup
- Pouch
By Distribution Channel:
- B2B
- B2C
- Supermarket/Hypermarket
- Departmental store
- Convenience store
- Online retail
- Others
By End Use Application:
- Beverage Industry
- Brewery industry
- Health and Wellness industry
- Sports Drinks
- Vitamin Supplements
- Seltzers & Tonics
- Retail
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
Flavored Milk Market Size: The flavored milk market is predicted to register a valuation of US$ 3,511.20 million in 2023, and is estimated to rise to US$ 6,529.38 million by 2033. The market is anticipated at a CAGR of 6.4% during the forecast period.
Flavored Butter And Oils Market Share: The global flavored butter and oils market size is expected to be valued at US$ 476.7 Million in 2022. With the growing popularity of homemade breakfasts and lunch instead of take-away foods, overall demand for flavored butter and oils is projected to grow at a CAGR of 6.5% between 2022 and 2032, totaling around US$ 891.5 Million by 2032.
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Flavored Salt Market Forecast: The flavored salt market is estimated to secure a valuation of US$ 3.2 Billion in 2023 and is estimated to rise to US$ 5.8 Billion by 2033. The market is anticipated to grow at a CAGR of 6.2% during the forecast period.
Flavored Yogurt Market Types: The global Flavored Yogurt market is expected to reach a market valuation of US$ 32.8 Billion by the year 2022, accelerating with a CAGR of 7.4% by 2022 to 2032.
Liquor Flavored Ice Cream Market Analysis: The liquor flavored ice cream market is likely to register a CAGR of 7.2% during the forecast period, and is anticipated to reach a market share of US$ 2.77 Billion in 2032
Fortified Milk and Milk Products Market Outlook: The Fortified Milk and Milk Products market is valued at US$ 110 Billion in 2022 and is projected to grow at a CAGR of 4.3% during the forecast period, to reach a value of US$ 167 Billion by 2032.
Plant-based Milk Market Overview: The global plant based milk market size is expected to reach a valuation of US$ 19.8 billion by 2023. It is likely to accelerate with a CAGR of 9.9% from 2023 to 2033. By 2033, the market for plant based milk is estimated to reach US$ 47.2 billion.
A2 Milk Market Demand: The A2 milk market is expected to grow from US$ 1,984.20 Million in 2022 to US$ 4,947.70 Million by 2032, at a 9.6% CAGR during the forecast period.
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